UK Business Property - RSS FeedCommercial Property NewsRBS reports it's biggest H1 loss ever, though many analysts expected worse- August 8, 2008 Royal Bank of Scotland fell to a first-half loss of £691 million , one of the biggest losses in UK corporate history, though not as bad as expected, after taking a £5.9 billion writedown on the value of risky assets.RBS, Britain'shttp://www.ukbusinessproperty.co.uk/news/article/853 Base Rates remain at 5% as the housing market dives more steeply than during 1990's slump.- August 7, 2008 On a day when the MPC has voted to keep Base Rate at 5% the Halifax has revealed the biggest monthly drop of 1.7% since December 1992 in UK House prices, in line with those reported recently by Nationwide. Howard Archer, chief UK economist at Global Insighttp://www.ukbusinessproperty.co.uk/news/article/852 Barclays H1 profits only down 33% to 2.75 billion- August 7, 2008 Barclays reported a 33% drop in first-half profits as it took a £2 billion writedown on the value of risky assets, but the profit drop was not as steep as expected.Britain's third biggest bank said today its pretax profit in the sixhttp://www.ukbusinessproperty.co.uk/news/article/849 Millennium & Copthorne pricing business away- August 7, 2008 Millennium & Copthorne plc, the hotel operator,said its half year results were in line with expectations but warned that the rate of growth in Asia had slowed in the last two months.The firm recently announced the disposal of the Millennium Seoul Hhttp://www.ukbusinessproperty.co.uk/news/article/851 Ballymore to halt construction of 44 storey apartment block in Birmingham- August 7, 2008 Developers Ballymore are reviewing the timetable for completion of the £500 million mixed-use regeneration scheme at Snow Hill, Birmingham.Although work has begun on building the footings of Snowhill Phase 3, it has been confirmedhttp://www.ukbusinessproperty.co.uk/news/article/848 Hammerson takes 407 revaluation hit to portfolio as NAV falls 9.9% in H1- August 7, 2008 Hammerson Plc. reported a 6.4% dip in the value of its UK and French assets today but robust rental income growth buoyed pretax profits, boosting shareholder returns by 10.5%.In interim figures for the half-year to June 30, the office and shoppihttp://www.ukbusinessproperty.co.uk/news/article/850 Liberty loses 14% value in H1 and chairman expects property to continue to fall until the banks become stable- August 6, 2008 Liberty International, Britain's third-largest real estate investment trust said the value of its property portfolio fell 14% to £7.99 billion in the first half, squeezing its diluted, adjusted net asset value (NAV) per share to 1,095 pence from 1,2http://www.ukbusinessproperty.co.uk/news/article/846 Dutch architects chosen to design Europes largest library in Birmingham- August 6, 2008 A Dutch architect chosen to design the new £193 million Library of Birmingham has promised to build a “warm and welcoming people’s palace”.Francine Houben, founding partner of multi-award winning firm Mecanoo, said shehttp://www.ukbusinessproperty.co.uk/news/article/845 Goodman wins planning appeal on Bedfordshire science park development- August 6, 2008 Planning permission has been granted on appeal after Bedford Borough Council’s decision to block the development, by a government inspector, who has granted permission for the development of a new Knowledge Hub and world-class Innovation Centre athttp://www.ukbusinessproperty.co.uk/news/article/847 Quintain batten down the hatches- August 5, 2008 Quintain Estates in it's Q1 interim statement places conserving cash in the business as it's top priority. In line with that they are witholding dividend payments for up to 2 years and cutting overheads by making 16 redundancies and cutting Greenwich Penihttp://www.ukbusinessproperty.co.uk/news/article/843 |